My rental property is Passive Income, however TurboTax Home & Business classified it as QBI. How do I convert it back to Passive Income?

Forum|Forum|2 years ago
April 10, 2024
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TurboTax Online

DavidD66

Rental property can be passive income and qualify for QBI. If TurboTax is showing your rental as QBI it is because you indicated it qualified as QBI. You need to go back to the section where you set your rental property up and check your answers.

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mr-john-james82Author

Good morning Dave66,

This is my first time using home & business. The software drew my info from previous data. I’m not a real estate professional, so other than that, where/how do I set up the property?

Thanks

PaulaM

Employee

You'll see the QBI questions after you have entered your income/expenses/assets for the property and selected 'Done with Rental Property'. There are a number of follow up questions.

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